By Kiku Steinfeld
Chicago, Oct. 9 – Toronto-Dominion Bank priced $320,000 of callable contingent interest barrier notes due March 28, 2024 linked to the common stock of salesforce.com, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly interest payment at the annual rate of 12.65% if the stock closes at or above the coupon barrier price, 65% of the initial share price, on the observation date for that period.
The notes may be called at par on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the stock finishes below the barrier price, 65% of the initial share price, in which case investors will be fully exposed to the losses of the stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
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| Underlying stock: | salesforce.com
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| Amount: | $320,000
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| Maturity: | March 28, 2024
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| Coupon: | 12.65% annual rate, payable quarterly if underlier finishes at or above coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus the final contingent interest payment unless the stock finishes below barrier price, in which case full exposure to losses of stock
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial share price: | $190.06
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| Coupon barrier/barrier level: | $123.539; 65% of initial price
|
| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 89114YUM1
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